Greenspan may be reappointed to boost Gore-BizWeek
NEW YORK, May 7 (Reuters) - The Clinton administration is preparing to reappoint Federal Reserve Chairman Alan Greenspan next year in hopes his
economic stewardship will help Vice President Al Gore's presidential bid, Business Week magazine reported.
The weekly magazine said in an unsourced story in its May 17 edition that the White House has concluded the Republican-controlled Congress would not confirm any Democratic candidate for Fed chairman, even Treasury Secretary Robert Rubin who gets high marks on Wall Street.
``The White House is clearing the way for the Federal Reserve chairman to serve four more years when his current third term ends in June, 2000,'' Business Week said.
Greenspan's term expires in the middle of the campaign for the U.S. presidential election in November, 2000.
``The GOP (Republican Party) doesn't want a Fed chairman who might be tempted to play politics with the economy to help Al Gore's chances,'' the magazine added.
Greenspan has worked well with Clinton and is the best bet to keep the eight-year U.S. expansion on track, which cannot hurt Gore's chances for election, the magazine said.
The magazine added that it was still unclear whether Greenspan, 73, wants to serve another term at the helm of the most powerful central bank in the world. But Clinton aides are betting he will accept the offer.
Greenspan could resign in midterm so the newly elected President can choose a successor once the partisan pressures of the campaign subside, the magazine concluded.